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Data are given for a sample of 407 retirement funds. Fund types are categorized as Growth and Value, that may have Low, Avera
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Answer #1

Total Number of Funds = 407

Number of Funds which are either value funds or has average risk = Number of value funds + Number of average risk funds - (Number of value funds with average risk)

=> (25+97+16) + (97+199) - 97

=> 25 + 97 + 16 + 199

=> 337

P(that it is value fund or has average risk) = Number of Funds which are either value funds or has average risk/ Total Number of Funds = 337/407 = 0.828 (approximately 0.83)

Correct answer is Option D (0.83)

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